Delia, with an FHA loan the minimum down payment is 3.5%. On a conventional loan, the minimum down payment is 5%. There're also some first-time homebuyer programs if you do not have enough money down that you may qualify for based on your income, credit, debt, etc. I work with first-time homebuyers like you on a regular basis and have some excellent lenders who can speak with you and review your specific situation and let you know where you stand and what you qualify for. That is the first step at this point.
Please feel free to contact me and I will put you in touch with one of these lenders, and they will not charge you anything for preapproval, nor will I charge you anything for excellent, professional buyer representation. I happen to be one of the top rated buyers agents in Austin and would be happy to assist you!!
Joe Jarusinsky, Realtor/Master Instructor
Keller Williams Realty, 512-261-4415